The Asia Partners team / Photo credit: Asia Partners
Asia Partners, a Singapore-based growth equity investment firm, has closed its second fund, Asia Partners II LP, raising a total of US$474 million in committed capital.
This amount is 23% larger than its inaugural fund, which had commitments totaling US$384 million. With the closure of this latest fund, the company’s assets under management have now reached US$1 billion.
Limited partners in the new investment vehicle include institutional investors, family offices, and individual investors across six continents. Asia Partners also noted that over 9% of the fund’s capital comes from its employees and advisory board members.
In a statement, the company said that Asia Partners II LP aims to invest in the long-term growth potential of Southeast Asia startups, with a focus on series C or series D rounds and check sizes ranging from US$20 million to US$100 million.
“We continue to believe this decade will be a golden age of entrepreneurship and innovation for Southeast Asia, and we are focused on accelerating that progress,” said Oliver Minho Rippel, co-founder and partner of Asia Partners, in the statement.
Asia Partners was founded in 2019 by Rippel, Nick Nash, Jill Cheong, Pitra Harun, Kien Nguyen, and Brook Supanusonti. It has invested in seven companies across various sectors, including ShopBack, Doctor Anywhere, SCI Ecommerce, GudangAda, Carsome, Snapask, and RedDoorz.
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Editing by Miguel Cordon and Jaclyn Tiu
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